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in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking about is the president's plan which was delivered to gop leaders last week by the treasury secretary, timothy geithner. ca calls for $1.6 trillion in new revenue. republicans say that figure is unacceptable. until they present their own plan the white house is standing by that proposal right now. despite the parties and lines in the sand we're joined by two republican law make rs. i've overwhelmed by republican lawmakers this morning. >> you're surrounded, soledad. >> connie mack is with us this morning and mary bono mack. i'm used to it on this show. it's interesting to hear boehner saying, listen, nowh
in something like, what, 29 days now we're going to hit the fiscal cliff. spending cuts, tax hikes. until lawmakers can reach a deal. house speaker john boehner pr pretty blunt on on where he felt the cliff negotiations were standing. listen. >> i would say we're nowhere. period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. >> the nothing he's talking...
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Nov 30, 2012
11/12
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cliff. and dr. francis collins with the national institutes of health. fiscal cliff. folks including today to liz hy malcolmed the month of november and the red and nasdaq and s&p close slightly higher, consumer discretionary and industrials were this month's top performing sectors, utilities and energy lagged behind. oil posting its second straight day of gains closing the trading day up 1%, $80.91 for a barrel of oil and today's gains in crude up 3% for the month of november as concern over threats to supply due to mideast violence offset ongoing demand worries and personal spending, are you part of this, it sold for the first time in five months dropping 0.2%. the commerce department is a debating that to hurricanes and the lowering wages and salaries by an annual rate of $18.2 billion. dave: we may get a dividend bust in the month of december and discuss all of these issues we have kevin in the pits of the cme and joe durant and united financial telling us what brand names are the best p
cliff. and dr. francis collins with the national institutes of health. fiscal cliff. folks including today to liz hy malcolmed the month of november and the red and nasdaq and s&p close slightly higher, consumer discretionary and industrials were this month's top performing sectors, utilities and energy lagged behind. oil posting its second straight day of gains closing the trading day up 1%, $80.91 for a barrel of oil and today's gains in crude up 3% for the month of november as concern...
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Nov 30, 2012
11/12
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president obama's first offer fiscal cliff, higher taxes, new spending and power over the debt spending. and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what what's going to happen. stuart: you don't think that the president will actually do this. >> no, no, i think the president has learned to negotiate. what the president would do, he would start with sort of half a loaf and negotiate and give the republicans about 75% of what they wanted. i think he's finally understood if you want to actually get to at least halfway, you have to start at extremes and meet halfway. republicans have done this all along. stuart: you agree with me, if this plan, anything like it from the president, were imposed on the economy at this time it would lead to recession. >> i think that the p
president obama's first offer fiscal cliff, higher taxes, new spending and power over the debt spending. and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what...
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Nov 29, 2012
11/12
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fiscal cliff? and you think that just the promise of spending cuts have to be included at this level and at this time? >> it is not productive for either side to lay out hard lines as for what size the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was? >> my question is do you think the promise of spending cuts has to be included in the deal that averts the fiscal cliff? >> there is a free-market we presented to the white house two weeks ago. the framework has been agreed to in terms of a down payment for the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of bounds. and not a recognition by the part of the white house on the serious spending problem we have. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will
fiscal cliff? and you think that just the promise of spending cuts have to be included at this level and at this time? >> it is not productive for either side to lay out hard lines as for what size the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was? >> my question is do you think the promise of spending cuts has to be included in the deal that averts the fiscal cliff? >> there is a free-market we...
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Nov 30, 2012
11/12
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fiscal cliff? and you think that just the promise of spending cuts have to be included at this level and at this time? >> it is not productive for either side to lay out hard lines as for what size the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was? >> my question is do you think the promise of spending cuts has to be included in the deal that averts the fiscal cliff? >> there is a free-market we presented to the white house two weeks ago. the framework has been agreed to in terms of a down payment for the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform next year. but this is way out of bounds. and not a recognition by the part of the white house on the serious spending problem we have. >> facing the prospect of going over the fiscal cliff or extending the lower tax rate and at the upper one, which would you choose? >> i will
fiscal cliff? and you think that just the promise of spending cuts have to be included at this level and at this time? >> it is not productive for either side to lay out hard lines as for what size the spending cuts ought to be. there are a lot of options on how you can get there. but the second part of your question was? >> my question is do you think the promise of spending cuts has to be included in the deal that averts the fiscal cliff? >> there is a free-market we...
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Nov 29, 2012
11/12
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has to be included in the deal that averts the fiscal cliff? >> there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform for next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. >> the prospect of going over the fiscal cliff, which you just called serious business, for extending the lower tax rate and not the upper ones. >> i'm going to do everything i can to putting the american economy, american people through the fiasco of going over the fiscal cliff. >> which is worse? >> as i told the president a couple weeks ago, there is a lot of things i have wanted in my life but almost all of them had a price tag attached to them. in we are going to talk about the debt limit in this, we are -- there's going to be some p
has to be included in the deal that averts the fiscal cliff? >> there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. that would include spending cuts and it would include revenue. setting up a process for entitlement reform next year and tax reform for next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending...
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Nov 29, 2012
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host: please go ahead with your comment about spending in the fiscal cliff. kip well ok, i'm going to tell you as a native american what the government's done for our people pretty much for 150 years. we've been given a check, barely enough to survive. on the reservation, high poverty, drug, alcohol, suicide rates. i look at the last 50 years and what the government's done for the black man, i've never seen not one public housing complex. you can go down to hud and look at all the little by they girls sitting in their with a baby in one arm and a cell phone and a cigarette in the other -- host: so terry, what's your point? caller: what my point is is that democrats are putting this country into poverty. plain and simple. host: all right, we got your point, thank you for calling in this morning. from politico this morning -- that's from politico this morning, and this is from the hill newspaper -- hagel, a centrist on foreign policy has expressed support for some of the obama administrations recent national security policy. again, that's from the hill reportin
host: please go ahead with your comment about spending in the fiscal cliff. kip well ok, i'm going to tell you as a native american what the government's done for our people pretty much for 150 years. we've been given a check, barely enough to survive. on the reservation, high poverty, drug, alcohol, suicide rates. i look at the last 50 years and what the government's done for the black man, i've never seen not one public housing complex. you can go down to hud and look at all the little by...
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Dec 5, 2012
12/12
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part of the so-called fiscal cliff. former chairman of the joint chiefs of staff, mike mike mullen, was joined at how services committee. this is a less than an hour. >> good afternoon. thank you for coming. my name is peter peterson. i would like to give you a review of why we are supporting this project today. starting about 30 years ago, after studying the profound demographic trends, on the vast and unfunded promise we have made. i have decided was not unsustainable, but a primary threat to the future. speaking of unsustainable, in the nixon white house in which i served, the chairman of the council, if something is unsustainable, he says it continues to stop. or if you don't like that, if your worst eyes, i suggest that you does not dismount. in lieu of that retirement, i decided to set up the foundation to increase awareness of long-term debts and get solutions. never in my experience have these things are more closely linked, in the words of mike mullen. we are endlessly reminded that everything must be on the ta
part of the so-called fiscal cliff. former chairman of the joint chiefs of staff, mike mike mullen, was joined at how services committee. this is a less than an hour. >> good afternoon. thank you for coming. my name is peter peterson. i would like to give you a review of why we are supporting this project today. starting about 30 years ago, after studying the profound demographic trends, on the vast and unfunded promise we have made. i have decided was not unsustainable, but a primary...
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Dec 4, 2012
12/12
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january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having, what is going to happen in another 10 years? what happens is, these people earning more than $250,000, they worked from the age of 18 to move up the ladder and finally reached success. the pint the republicans have to make is it is time to lower taxes on middle-class families. it has reached a pinnacle. it is time to may be lower taxes on the middle-class. we have to cut spending because the economy is in such bad positicondition. democrats keep pointing out that 98% of businesses are less than $250,000. 98% of people working in those businesses -- with that went to in
january 2, 2013, $110 billion in fiscal cliff spending cuts due to begin. march 27, 2013, funding of the federal government expires. august 1, 2013, white house's suggested deadline for resolving major changes to the tax code and entitlements. ron has this to say about the fiscal cliff -- let's hear from ray in philadelphia, a republican caller. caller: good morning. i think the republicans have to get out a better message. if we realize we ran out of money for all the programs we are having,...
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Dec 7, 2012
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host: what happens in the next couple of weeks on the issues we are talking about with the fiscal cliff? would you be ok if we went over it? caller: i would not be happy about it, but yes. what is the answer, raise more taxes? they will just spend it. it will not spend it to knock down the debt. they would just say, more money for us to spend. what is the point? until they come to the table ready to slow down spending and cut out entire agencies. we are a in big 8 -- we are in big trouble. a tweet -- i want to go now to the democratic line, dorothy is waiting from marble falls, texas. caller: good morning. i think they are missing the boat. what i suggest need happen is, it needs to be solved after an immigration level. most countries do have to put up some kind of bank account to bring your family across the border. if we had a family of four trying to sustain a citizenship here, they should go put up some money in the bank account for a couple of years. as long as there are no other children being born, they do not get host: penalized will this solve the fiscal cliff issue we are faci
host: what happens in the next couple of weeks on the issues we are talking about with the fiscal cliff? would you be ok if we went over it? caller: i would not be happy about it, but yes. what is the answer, raise more taxes? they will just spend it. it will not spend it to knock down the debt. they would just say, more money for us to spend. what is the point? until they come to the table ready to slow down spending and cut out entire agencies. we are a in big 8 -- we are in big trouble. a...
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Dec 6, 2012
12/12
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i have two questions concerning the fiscal cliff. the cash cuts that republicans -- the spending cuts on medicare. why don't we allow them to negotiate medicare and to reduce the cost of medicine? that should save you a lot of money yearly. i agree totally about the republicans and democrats spending money stupidly just before the election. both sides voted to refurbish something like 170 army tanks that the army said they'd do not need. they went and voted to repair those tanks. why are we wasting our money? democrats want to cut taxes. host: armstrong williams? guest: we haven't gotten to affordable care and medicare and medicaid. if affordable care was administered correctly and if he did not have the special interest groups and if tort reform was not included, package you move forward in making health care work for anyone if you do not bring tort reform to the table? the medical malpractice lawsuits are out of control where doctors are paranoid and have to think twice before going through these procedures. it becomes a nightmare
i have two questions concerning the fiscal cliff. the cash cuts that republicans -- the spending cuts on medicare. why don't we allow them to negotiate medicare and to reduce the cost of medicine? that should save you a lot of money yearly. i agree totally about the republicans and democrats spending money stupidly just before the election. both sides voted to refurbish something like 170 army tanks that the army said they'd do not need. they went and voted to repair those tanks. why are we...
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a economy goes over the fiscal cliff. economists surveyed said one and a half million americans could lose their jobs if lawmakers fail to come to an agreement and the automatic spending cut impact increases. forces are keeping an eye on some debts for a budget bill. the nasdaq gained due to a rebound by apple. the number was triggered by reports that it would lose shares to its rival google. apple is trying to regain market share from samsung. the to tech companies are back in court today to get it out over a $1 billion patent fight. meantime nationwide insurance is warning customers that its computers networked had been attacked. customers' names birth dates social skirted numbers and driver's license numbers were likely stolen. nationwide is apologizing and are offering customers an identity that protection for one year. start planning did vacations, walt disney new fantasyland is officially open. this is after what may be the biggest expansion in the orlando parts 41 year history. the estimated $300 million magic king
a economy goes over the fiscal cliff. economists surveyed said one and a half million americans could lose their jobs if lawmakers fail to come to an agreement and the automatic spending cut impact increases. forces are keeping an eye on some debts for a budget bill. the nasdaq gained due to a rebound by apple. the number was triggered by reports that it would lose shares to its rival google. apple is trying to regain market share from samsung. the to tech companies are back in court today to...
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Dec 3, 2012
12/12
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i think the fiscal cliff we are spending a lot of time on and we will continue to see deleveraging of trades that have worked because of all of the tax implications. i don't think you can be sure this is the same santa claus rally that you want to blindly buy. last year was very painful to people who thought fundamentals would win out. you ran into deleveraging flows that were related to policy. if you don't think we are not going to have policy issues through the end of the year you are crazy. >> i think we all do the same, i believe that you can time the market and pick stocks. i know people believe that. it is interesting that today we talked about ranges in the s&p. i think we have done a good job. look at where we traded up to that 1425 that we have talked about being resistance number of times. i don't want to make a big deal out of this. today was an outside day from friday's range the low, lower than friday's low. it has been in a very defined range. i think we traded towards the upper end and i think we are heading twarts the 1375 and 1380 level again. you trade that range un
i think the fiscal cliff we are spending a lot of time on and we will continue to see deleveraging of trades that have worked because of all of the tax implications. i don't think you can be sure this is the same santa claus rally that you want to blindly buy. last year was very painful to people who thought fundamentals would win out. you ran into deleveraging flows that were related to policy. if you don't think we are not going to have policy issues through the end of the year you are crazy....
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Dec 1, 2012
12/12
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stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales will fall by 4% in the fourth quarter, that's a big drop from the same period a year ago when sales surged 21%. blaming the weak chinese economy, yum also said it plans to reduce the number of restaurant openings in the asian nation. yum operates roughly 5,000 restaurants in china, accounting for half of its total sales. >> susie: joining us now with more on the chinese consumer and the economy, nicholas consonery, asia analyst at the eurasia group. nick we've heard this story before from nike, mcdonald's, tiffany's recently. how serious is this consumer slow-down in china? >>
stocks were mixed with continued nervousness about the fiscal cliff. the dow gained just three points, the nasdaq lost nearly two. the s&p 500 was virtually unchanged. on the week, the dow up just barely. the nasdaq the biggest gainer: up almost 1.5%, the s&p up half a percentage point. >> susie: investors took a bite out of yum brands today. the stock tumbled 10% after the parent of k.f.c. and pizza hut said its business in china is slowing. yum's c.e.o. warned that china sales...
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Nov 30, 2012
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how can yiu have a serious discussion about the, quote, fiscal cliff, when the president is talking about spending more, particularly when you look at the information coming out on how they spent the solar money, it's a scandal, how many billions of dollars they misapplied to lost causes, and how many people got rich out of government guarantees promptly cashing out as soon as they got the money. i think congress ought to slow down, have a lot more hearings and a lot more markups, and produce a number of separate small bills, and then let the senate democrats do they really want to go into 2014 as the obstructioniness senate or take up positive legislation and get something done. >> greta: quote, we don't need a surrender caucus, a shot at the senate republicans that they were giving in. if they take your advice, they have three or four weeks left before they hit the so-called sequestration or fiscal cliff. are you suggesting we go over it? >> first of all, there's no sign that speaker boehner is backing down. what i said in general to both house and senate republicans, to some of the mem
how can yiu have a serious discussion about the, quote, fiscal cliff, when the president is talking about spending more, particularly when you look at the information coming out on how they spent the solar money, it's a scandal, how many billions of dollars they misapplied to lost causes, and how many people got rich out of government guarantees promptly cashing out as soon as they got the money. i think congress ought to slow down, have a lot more hearings and a lot more markups, and produce a...
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Nov 30, 2012
11/12
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the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that? >> because the president thinks he has a mandate from the whole country. he thinks he can get anything he wants. i am sure that alan colmes loves this idea. here are the problems. the congress has the authority to authorize the debt. they also have the authority to authorize the bill that pays the debt. so now the president wants to take that away. this guy has shown a tendency to say that i don't need congress. i can pass laws with a stroke of a pen on executive orders. he doesn't need the supreme court because he declares laws unconstitutional, like doma. he says he wants an unlimited credit car
the reason we find ourselves about to go off the fiscal cliff with the automatic spending cuts, in part is because back in 2011, they wanted to raise the debt ceiling and the republicans said you cannot do it unless we do spending cuts. we cannot just do deficit spending. so they agree, they cut this deal, now the democrats are going to the republicans and saying, forget that. let's just in the position to get rid of it. what on earth would make them think that republicans would agree to that?...
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Nov 29, 2012
11/12
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cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll sererere tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems utterly unimpressed by market volatility and the consequences of failure to resolve the issues of tax hikes and spending cuts that go into affect the first of the year. as the markets were falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here toight with bedford open geyser c
cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll sererere tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems...
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lauren: with all the uncertainty surrounding fiscal cliff should you invest differently right now? david: one economist says investors have to look beyond the fiscal crisis. we have senior economist at oppenheimer fund joins us now. more than that, what you say you've got the perfect split. -p60/40, 60 being equities and 40 being dot, dot, dot, something else. how do you devise, some people are gold bugs say it is all gold. cash bugs, say you have to be flexible, keep it in cash. how do you divide the 40% not in equities? >> first of all we took a step back and looked how investors allocated portfolio. there is generally 60/40 split between stocks and bonds but 60% predominantly in domestic ex-quits and 40% in high grade economic instruments. david: none is in the cash. >> cash, government relate the ed securities. if you look at 40%, that might have made sense 30 years ago when yields on treasurys were siinificantly higher and inflation was falling for a 30-year time period. if you look at it yields are paltry. what do you need to do? we talk about allocating exposure to higher yi
lauren: with all the uncertainty surrounding fiscal cliff should you invest differently right now? david: one economist says investors have to look beyond the fiscal crisis. we have senior economist at oppenheimer fund joins us now. more than that, what you say you've got the perfect split. -p60/40, 60 being equities and 40 being dot, dot, dot, something else. how do you devise, some people are gold bugs say it is all gold. cash bugs, say you have to be flexible, keep it in cash. how do you...
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Nov 29, 2012
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the fiscal cliff? >> there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. now, that would include spending cuts and it would include revenue. setting up a process for entitlement reform for next year and tax reform for next year. but -- but -- but this is way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. >> faced with the prospect of going over the fiscal cliff, which you just called serious business, or extending the lower tax rates and not the upper ones, which one would you choose? >> i'm going to do everything i can to avoid putting the american economy, the american people, through the fiasco of going over the fiscal cliff. >> which is worse, though, for the economy? >> what's that point of balance you just spoke about? could you put a debt limit increase in the overall package? >> as i told the president a coup
the fiscal cliff? >> there's a framework that we presented to the white house two weeks ago. the framework is -- has been agreed to in terms of really a down payment on the end of this year. now, that would include spending cuts and it would include revenue. setting up a process for entitlement reform for next year and tax reform for next year. but -- but -- but this is way out of balance. and not a recognition on the part of the white house about the serious spending problem that we...
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Nov 29, 2012
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they want to avoid the fiscal cliff, balanced approach, they want us to do it right now. >> right now secretary geithner should be wrapping up a meeting with the senate republican leader mitch mcconnell. maybe they will have a press conference. meeting with house democratic leader nancy pelosi at the top of the hour. dennis: i am sure the sox will gyrate wildly in response. thank you very much. cherly the u.s. embassy in cairo ordered close as protest continues over a recent decree by president mohamed morsi granting himself near absolute power in that country. managing director joins me now. obviously the impact now of the market here in the oil market in particular is what is each of the false into civil war. what happens to oil them. >> you have to look at the suez canal, therefore the price of oil. they do have a history of the army stepping in to maintain this. order in a situation like "the trade" time, what we have now is a different type of egypt. we had a guest on yesterday telling us the muslim brotherhood and hamas are the same thing. a terrorist organization in the minds o
they want to avoid the fiscal cliff, balanced approach, they want us to do it right now. >> right now secretary geithner should be wrapping up a meeting with the senate republican leader mitch mcconnell. maybe they will have a press conference. meeting with house democratic leader nancy pelosi at the top of the hour. dennis: i am sure the sox will gyrate wildly in response. thank you very much. cherly the u.s. embassy in cairo ordered close as protest continues over a recent decree by...
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Nov 29, 2012
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we cannot address the fiscal cliff without talking about entitlements, which are 54% of our spending. anybody can do the math on that. thank you, mr. president. and i yield the floor. the presiding officer: the nuclear from arizona. -- the senator from arizona. mr. kyl: i thank my colleague from texas for her leadership on this and so many other issues we have worked on over the years. one of my regrets in leaving the senate that i will not be able to work with her. we'll be off doing something else, but we're not going to give up on the fights we've been engaged in over the years. i want to pick up where my colleague left off about the meanings of this fiscal cliff and what is being proposed as alternatives to going over the fiscal cliff. i was interested that in week the president has embarked on what one newspaper referred to as "the fiscal cliff campaign trail." he is out as if the campaign were still going on, and the centerpiece of his pitch -- and i heard him say it again last night -- is that the house of representatives should pass a bill that was passed in the senate related
we cannot address the fiscal cliff without talking about entitlements, which are 54% of our spending. anybody can do the math on that. thank you, mr. president. and i yield the floor. the presiding officer: the nuclear from arizona. -- the senator from arizona. mr. kyl: i thank my colleague from texas for her leadership on this and so many other issues we have worked on over the years. one of my regrets in leaving the senate that i will not be able to work with her. we'll be off doing something...
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the kinds of spending you're seeingo a great eent on the fiscal cliff and president's pl and lesser extent to the republican plan, largely disctionary spending cs. a lot coming out of defense. these are not longerm ructural chaes t will put on a path to a balaed budt. that will not happen. melissa: the other thing that struckme about the graphic when you look at it, the threat f from republicans hey, we would rath go over the cliff rather than take the president's deal, to me doesn't look terribly credible when you look at actual numbers. unss you take into perspective we're not really going overor years. but it is just going over the cliff is so focus on raising taxes, on absolutely everybody and spending cuts are really nothat imprsive in tes of getting, you know, the gap down smalle they say if you compare it to the white house plan they would rather g over the cliff. i'm not sure that is really credible given those mbers. what do you think?. >> way some rublicans not l, growing number of republicans are looking at this, assigningle to the president, making clea this t president'slan an
the kinds of spending you're seeingo a great eent on the fiscal cliff and president's pl and lesser extent to the republican plan, largely disctionary spending cs. a lot coming out of defense. these are not longerm ructural chaes t will put on a path to a balaed budt. that will not happen. melissa: the other thing that struckme about the graphic when you look at it, the threat f from republicans hey, we would rath go over the cliff rather than take the president's deal, to me doesn't look...
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Dec 6, 2012
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fiscal cliff. what those tax increases mean to an average american family of four earning $50,000 a year is over $2,000 in higher income taxes. add to that expiration of the alternative minimum tax patch, new taxes mandated by the federal health care bill, and the reinstatement of the death tax, which will impact the next generation of farmers, ranchers, and small business owners, which americans will see the largest tax increase in the history of our country. if all of this happens, the congressional budget office predicts the nation's economy will shrink next year and the unemployment rate could rise again. in other words, we go back into recession. i believe we can avoid the fiscal cliff and address our massive deficit but that requires doing three essential things: reforming our tax code, reforming entitlement programs, and better controlling our spending. we can get additional revenue by reforming our tax code. that means closing loopholes and limiting deductions. by closing loopholes and limi
fiscal cliff. what those tax increases mean to an average american family of four earning $50,000 a year is over $2,000 in higher income taxes. add to that expiration of the alternative minimum tax patch, new taxes mandated by the federal health care bill, and the reinstatement of the death tax, which will impact the next generation of farmers, ranchers, and small business owners, which americans will see the largest tax increase in the history of our country. if all of this happens, the...
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Dec 3, 2012
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we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts, there will be a foot race to fire people if we don't get this cliff taken care of which is why if we're going over the
we need to deal with the fiscal cliff. have a credible down payment on the tax and spending side. bridge to a grand bargain next year. the fiscal cliff is the symptom. structural deficit is the disease. we need to learn from australia, canada, new zealand, sweden. we need to do it next year. >> all right. >> get dr. dave to washington right away so that we avoid what cramer on "meet the press" this weekend had great line. he said on january 8th when the reporting starts,...
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Nov 30, 2012
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there is the fiscal cliff to consider. >>> now let's turn to japan. the jobless rate in october remained flat compared to the previous month. the internal affairs ministry said unemployment stayed at 4 4.2%. officials at the labor ministry say the ratio of job vacancies to seekers declined. it says 80 positions were open for every 100 job seekers. the industrial output posted an increase in october for the first time in four months. the index stood at 88.1 against a reference value of 1205. this was due to increases in the electronic parts and devices industry as well add the fabricated metal sector. now let's get a check on markets. japanese prices are trading in a modest range. the nikkei is at 9,427. investors are placing buy orders after the dow jones industrial average recovered to the 13,000 level. there's some profit taking here in tokyo following the recent events. let's take a look at the currency markets. the dollar is trading in a narrow range this friday morning. market sources say traders are refraining from aggressive moves as they wait
there is the fiscal cliff to consider. >>> now let's turn to japan. the jobless rate in october remained flat compared to the previous month. the internal affairs ministry said unemployment stayed at 4 4.2%. officials at the labor ministry say the ratio of job vacancies to seekers declined. it says 80 positions were open for every 100 job seekers. the industrial output posted an increase in october for the first time in four months. the index stood at 88.1 against a reference value of...
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if the fiscal cliff is avoided, the federal government is expected to spend, let's do it this way, over three and a half trillion dollars. that's a lot of money, especially since they are only collecting to one-half in revenue and taxes. that leaves us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth decit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest w have a tax problem or, perhaps, a spending problem? think about this. taxpayers making more than $250,000 representing the top 2% paid more than 46% of all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much should it be? and contrary to what the president would have you believe as he campaigns untack sites all ar
if the fiscal cliff is avoided, the federal government is expected to spend, let's do it this way, over three and a half trillion dollars. that's a lot of money, especially since they are only collecting to one-half in revenue and taxes. that leaves us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth decit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by...
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Dec 3, 2012
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. >>> as each day ticks by, the nation edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making a concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> speaker boehner added he is flabbergasted by the administration's proposals while secretary geithner said he believes a deal can be reached by the end of the year. >>> we could find out this morning if the supreme court will take up the issue of same-sex marriage. at 9:30 eastern, the court releases its orders list. there's a possibili
. >>> as each day ticks by, the nation edges closer to going over the fiscal cliff. democrats and republicans cannot agree how to raise revenue and cut spending. on january 1st, as many of you know, taxes go up and doeep spending cuts take effect. the sunday talk shows reflect how far apart they are what we will not do is extend those tax cut force the wealthiest americans. there's no possibility that we will find a way to get our fiscal house in order without those tax rates going...
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the responsibilities on the fiscal cliff -- if the program put in place is more taxes and big spending cuts, which will push us toward a recession, forgive it. and that's what we're getting. more taxes and big spending cuts. so the idea here is this sort of overall concern that the fiscal cliff issue, even if it's resolved, means more austerity. and that's a problem overall for the markets here. take a look, though. we've held up reasonably well in the ism manufacturing. this goes back for the last several years. the big concern here is the trend basically has been down. we've been sideways for a couple months. and now four out of six months showing contraction. in terms of the market, we're still continuing to hold up pretty well. you notice we don't get any real panic here. that's because of the seasonal time of the year, partly. december to january. very big, strong two-month combination. a lot of people try to get in december, ahead of -- beginning of the month buying in january. the news has been manageable in europe. you heard from simon, middle east has been a bit calmer in the
the responsibilities on the fiscal cliff -- if the program put in place is more taxes and big spending cuts, which will push us toward a recession, forgive it. and that's what we're getting. more taxes and big spending cuts. so the idea here is this sort of overall concern that the fiscal cliff issue, even if it's resolved, means more austerity. and that's a problem overall for the markets here. take a look, though. we've held up reasonably well in the ism manufacturing. this goes back for the...
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. >> beware, there's a fiscal cliff ahead, but there's still no plan from the president on how to cut spending. >> made a mistake, but i didn't. almost 18, almost 20 years ago. >> a former democratic representative who was convicted of having sex with an underage girl says he's back, and he's running for congress. all of that, plus a shocking new report that gitmo detainees may be coming to america. "hannity" starts right here, right now. new troubles for u.n. ambassador susan rice this as questions surface about her time at the state department when al-qaeda bombed two african embassies in the late '90s, and how the situation parallels what happened prior to the terror attack in benghazi that left four americans dead. yesterday republican senator susan collins met with ambassador rice for 90 minutes, and after the closed-door meeting the senator questioned rice's role at the state department back in 1998 when she served as the assistant secretary of state for african affairs in the clinton administration. watch this. >> those bombings in 1998 resulted in the loss of life of 12 americ
. >> beware, there's a fiscal cliff ahead, but there's still no plan from the president on how to cut spending. >> made a mistake, but i didn't. almost 18, almost 20 years ago. >> a former democratic representative who was convicted of having sex with an underage girl says he's back, and he's running for congress. all of that, plus a shocking new report that gitmo detainees may be coming to america. "hannity" starts right here, right now. new troubles for u.n....
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Dec 5, 2012
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6rillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the same old, same old. the president has been making the sa comments again. is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, it means that those that are negotiating, such as secretary geithner, they probably don't feel bound by what the president is saying. th
last night, we covered the details of the president's opening gambit in the fiscal cliff talk. he wants a $1.6rillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a very big deal for folks there. today, the president is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not...
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Dec 4, 2012
12/12
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that's the first part of the fiscal cliff. the second part of it is the spending decrease that this congress and the president agreed to the last summer to say we dramatically increase spending, we have to reduce that spending. that spending decrease that was agreed to had a deadline by the end of this year. if there didn't there would be across the board cuts. the house passed our spending decreases in may. the senate has yet to pass any. with that we're stuck with across-the-board cuts that will be in early january. and the tax rate for all americans. in 2001 and 2003 and then extended during the lame duck of 2010, every americans' tax rates were extended out to expire the 31st of december. every tax rate from the lowest to the highest is set to go up. some people see the problem is we're not taxing enough and so that solves the problem. to just go off the fiscal cliff and everyone will be taxed more. some say we don't take from some group and give to the other. some say go to the clinton tax rate. we had a booming economy a
that's the first part of the fiscal cliff. the second part of it is the spending decrease that this congress and the president agreed to the last summer to say we dramatically increase spending, we have to reduce that spending. that spending decrease that was agreed to had a deadline by the end of this year. if there didn't there would be across the board cuts. the house passed our spending decreases in may. the senate has yet to pass any. with that we're stuck with across-the-board cuts that...
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plus, about a trillion dollars in spending cuts. speaker john boehner said the president's plan just wouldn't pass. unfortunately, the white house responded with their la-la land offer that couldn't pass the house. so basically they are at odds. david, here's what i've got, here's my calculation, rough back of the envelope, okay? when i can find the envelope. okay? it is president obama wants 800 billion dollars more in tax revenue from the rich in the form of higher tax rates. the republicans want about a trillion dollars more in spending cuts. david: uh-huh. stuart: the two sides are those dollar numbers apart. and you say what? david: i say i don't think the president cares if it passes the house. because if it passes, he gets everything he wants. he doubled the amount of tax income he wanted from the private sector because he wants many r in his proposal. -- he wants more in his proposal. if it doesn't pass, he gets automatic tax increases from everybody, more government money from the private sector. he gets big cuts in the mil
plus, about a trillion dollars in spending cuts. speaker john boehner said the president's plan just wouldn't pass. unfortunately, the white house responded with their la-la land offer that couldn't pass the house. so basically they are at odds. david, here's what i've got, here's my calculation, rough back of the envelope, okay? when i can find the envelope. okay? it is president obama wants 800 billion dollars more in tax revenue from the rich in the form of higher tax rates. the republicans...
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thanks. >>> the fiscal cliff debate hitting a new low. 28 days tax hikes and spending cuts will create a lot of pain for nearly every american if a deal does not get done. republicans offering up a counterproposal to the president that calls for $2.2 trillion in deficit savings over the next decade. it includes $800 billion in tax reforms. $600 billion for medicare reforms. and $600 billion in spending cuts. but it does not contain tax hikes for the wealthiest americans. so the president immediately dismissed it. and if you want to know just how far apart the two parties are, this should clear it up for you. >> i think we're going over the cliff. >> it's unfortunate that the white house has spent three weeks doing basically nothing. >> what we can't do is kind of figure out what works for them. >> the president's idea of a negotiation is roll over and do what i ask. >> it's pretty clear to me they've made a political calculation. >> their ideas are different from ours, we can't guess what they are. >> we look forward to the time when they are specific. >> they need to be more specific.
thanks. >>> the fiscal cliff debate hitting a new low. 28 days tax hikes and spending cuts will create a lot of pain for nearly every american if a deal does not get done. republicans offering up a counterproposal to the president that calls for $2.2 trillion in deficit savings over the next decade. it includes $800 billion in tax reforms. $600 billion for medicare reforms. and $600 billion in spending cuts. but it does not contain tax hikes for the wealthiest americans. so the...